Verve Credit vs. Discover it® Student Cash Back

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Verve Credit Card Verve Credit Card Discover it<sup>®</sup> Student Cash Back Card Discover it® Student Cash Back Card
6.7MyCreditCardLab Score

MyCreditCardLab Score 6.7

We've meticulously evaluated this card using MyCreditCardLab's exclusive credit card rating system. Our assessment considered various cardholder needs, ultimately assigning a rating based on the need with the highest score, currently at "." Our rating scale ranges from 1 to 10, with 10 representing the best possible score.

Annual Fee
7.9
Intro APR
6
Regular APR
7.3
Rewards
5
Benefits
7.3
Welcome Bonus
5.5
Recommended Credit Score: 6.2
Foreign Transaction Fee: 7
Cash Advance Fee: 8
Balance Transfer Fee: 6.5
9.0MyCreditCardLab Score

MyCreditCardLab Score 9.0

We've meticulously evaluated this card using MyCreditCardLab's exclusive credit card rating system. Our assessment considered various cardholder needs, ultimately assigning a rating based on the need with the highest score, currently at "." Our rating scale ranges from 1 to 10, with 10 representing the best possible score.

Annual Fee
10
Intro APR
10
Regular APR
8
Rewards
8.8
Benefits
8
Welcome Bonus
8.5
Recommended Credit Score: 9
Foreign Transaction Fee: 10
Cash Advance Fee: 9.5
Balance Transfer Fee: 8.2
ANNUAL FEE
ONE-TIME $0 $0
INTRO APR
N/A 0% APR on purchases for six months from account opening
REGULAR APR
29.99% - 35.9% Variable APR 10.99% intro balance transfer APR for six months from date of first qualifying balance transfer, 18.24% to 27.24% ongoing variable APR
PROS
  • Qualify with bad credit
  • Does not require security deposit
  • No annual fee
  • Making it accessible for those with limited or bad credit
  • Earn cash back in bonus categories
  • Take advantage of an introductory APR period
  • Your activity is reported to all three major credit bureaus.
CONS
  • High membership fees
  • High regular APR
  • Foreign fee
  • New credit users may find the quarterly category rewards system complex
  • The card lacks an introductory APR on balance transfers, which may not be ideal for those looking to consolidate debt.
WELCOME BONUS
No Welcome offer available Discover will match all cash back earned at the end of your first year with the card.
REWARDS
Verve Credit Card Rewards program provides exceptional flexibility in credit currency. Redeem your earnings across a wide range of options, including:
  • Mastercard Zero Fraud Liability coverage against fraudulent charges
  • Ability to use anywhere Mastercard is accepted worldwide
  • 3% foreign transaction fee
  • Free online account access 24/7
  • Monthly reporting to the three major credit bureaus (Experian, Equifax, and TransUnion)
  • Free credit score access every month
Discover it® Student Cash Back Card Rewards program is renowned for its flexibility in credit currency. Explore various redemption options for your earnings, including:
  • Enjoy 5% cash back on rotating quarterly bonus categories, up to $1,500 per quarter, with enrollment required.
  • Earn 1% cash back on all other purchases.
  • Plus, receive a cash back match at the end of the first year.
BENEFITS
Build Credit - To build good credit, you must use credit responsibly. You also need a credit line increase. Payment history and credit use make up two-thirds of a person’s FICO credit score. The FICO model is the most popular one among lenders. To build a good credit score, pay at least the Verve Mastercard's minimum each month. Also, keep credit use below 30% of the credit limit. Credit limit - Based on your credit limit of $300, your initial available credit will be $225 (or $195 if you choose to have an additional card). Account access - Free online account access - 24/7, Monthly reporting to the three major credit bureaus. Freeze it® - Easily place holds on stolen or missing cards directly through the app for added security and peace of mind. Access to Credit Education - This feature is best for credit scores to improve. Gain access to Discover's Credit Scorecard with your FICO® Credit Score, monthly updates, and tips to help you understand and improve your credit. Cashback Match™ - At the end of your first year with the card, Discover matches all the cash back you've earned, effectively doubling your rewards without any limit. so students benefit from doubling reward points for other spending. Rotating Bonus Categories - Earn 5% cash back on everyday purchases in rotating quarterly bonus categories, such as gas stations, grocery stores, restaurants, and more, up to the quarterly maximum. Good Grade Reward - Get a $20 statement credit each school year if your GPA is 3.0 or higher for up to the next five years. it's not a big reward but a small credit combination helps your spend.
CASH ADVANCE FEE / APR
29.99% - 35.90% variable, plus a fee of either $10 or 5% of the amount of each transaction, whichever is greater Either $10 or 5% of the amount of each cash advance, whichever is greater.
BALANCE TRANSFER FEE
Balance transfer not available 10.99% intro APR on Balance Transfers for 6 months, and then the ongoing APR of 18.24%-27.24% Variable APR
RECOMMENDED CREDIT SCORE
400 - 629 (Very Poor - Poor) 630 - 689 (Poor - Fair)
FOREIGN TRANSACTION FEE
3% None
BEST FOR
  • Students
  • Bad Credit
  • U.S. Supermarket Spending
  • Cash Back Seekers
  • Students
  • Bad Credit
  • U.S. Supermarket Spending
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